Gold prices fell at the settlement, on Tuesday, affected by the strength of the dollar and the rise in bond yields, at a time when investors are awaiting more US economic data this week, which may affect the policy stance of the Federal Reserve (US Central Bank).
Gold futures contracts fell at the settlement by 1.5% to 1978.80 dollars an ounce, and the price of gold in the spot market fell 1% to 1944.29 dollars an ounce.
The dollar index rose 0.5% to a three-week high, making gold more expensive for holders of other currencies.
US Treasury yields rose as investors prepared for the Treasury’s announcement on Wednesday, anticipating more economic flexibility in the future, although data released on Tuesday showed a slowdown in activity.
Meanwhile, US manufacturing appeared to stabilize at weaker levels in July amid a gradual improvement in new orders.
Investors’ eyes now turn to the headline US non-farm payrolls report for July on Friday.
tags
